Located a short distance from the Istana, it was the last remaining office building in facing brick in the central area.

After years of remaining vacant, the building was put up for sale by tender on 5 April 2002, with a net lettable area of about 78,600 square feet (7,300 m2) over ten stories.

[2] While the sale was on-going, the building was gazetted as a national monument on 10 February 2003, with the exterior façade coming under protection.

[3] The successful bidder, Tinifia Investment, paid S$36 million for the freehold building in 2003, and closed the building for extensive interior renovations costing another S$12 million, including the upgrading of the ceilings, floors, lobby and lifts, and the introduction of car parking facilities with the addition of a mechanical parking system for 30 cars.

The flagship Orchard Road Branch of Citibank Singapore opened on 23 June 2005, occupying 37,000 square feet (3,400 m2) of space spread over the building's lower four floors which house the largest wealth management centre in Asia.

It is a reinforced concrete framed structure and clad in light red brickwork of fine detail, the last major building of its kind in downtown Singapore.